Cinctive Capital Management LP Sells 79,161 Shares of International Paper (NYSE:IP)

Cinctive Capital Management LP decreased its position in International Paper (NYSE:IP - Free Report) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,386 shares of the basic materials company's stock after selling 79,161 shares during the quarter. Cinctive Capital Management LP's holdings in International Paper were worth $6,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after purchasing an additional 340,383 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of International Paper by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after buying an additional 24,816 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of International Paper by 2.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,370,685 shares of the basic materials company's stock valued at $181,410,000 after acquiring an additional 74,759 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company's stock valued at $145,106,000 after acquiring an additional 2,484,386 shares during the last quarter. Finally, Norges Bank bought a new stake in International Paper during the fourth quarter worth $109,201,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

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International Paper Stock Performance

IP stock traded down $1.29 during midday trading on Friday, reaching $47.89. 8,125,261 shares of the company's stock traded hands, compared to its average volume of 9,480,998. The firm has a market capitalization of $25.20 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 0.39 and a beta of 0.99. The company has a 50-day moving average price of $54.18 and a two-hundred day moving average price of $53.82. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). International Paper had a net margin of 2.99% and a return on equity of 4.75%. As a group, equities analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.86%. International Paper's dividend payout ratio is currently 117.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IP. Truist Financial restated a "buy" rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a research note on Friday, January 31st. Citigroup initiated coverage on shares of International Paper in a research report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective on the stock. StockNews.com downgraded shares of International Paper from a "buy" rating to a "hold" rating in a research report on Friday, March 28th. Finally, Bank of America started coverage on shares of International Paper in a research note on Thursday, February 13th. They set a "neutral" rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.32.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.